India, Sept. 13 -- FMCG major Marico is acquiring an additional 46.02% stake in HW Wellness Solutions, the parent of omnichannel healthy snacks startup True Elements, to increase its shareholding to 100%.

In an exchange filing, Marico said it would acquire the stake from the founders and other shareholders of HW Wellness for INR 138 Cr. The acquisition is expected to be completed by September 30.

Notably, Marico acquired a 53.98% stake in HW Wellness in 2022 via primary infusion and secondary buyouts to scale its presence in healthy breakfast and snacking categories.

Founded in 2013 by Puru Gupta and Sreejith Moolayil, True Elements is a Pune-based food brand specialising in healthy breakfast and snacks including oats, muesli, granola,...